Optimistism abound

The market was permeated with pessimistism at the opening bell due to the worsening initial jobless claim.  but it slowly regained its footings.  It was surprising to see the market's strong last effort to keep all three indexes green at the closing.   It is somewhat the indication of optimistism since tomorrow we will hear the job report, one of the most import economic data.  It is generally accepted that a weak job data could add some chills to the nascent rally.  So, to bet before this potential market changing news, it tells a lot about the sentimentals of the traders.    It is often said that the glass is half empty or half full depends on one's point of view.   my guess is that, after Tuesday's strong showing, everything is rosy again in Wall Street.

It is somewhat puzzling that market did not end up even higher.  XHB and SMH has a particularly strong day, XLF is basically flat.   maybe XLF is more important than tech and home buiders..

DBA seems get its act together again.  it is reported that even though farmers grow more soybeans, but corn's acreage actually shrinked.  So,  there will be supply problem for the corn.

Chinese ADR's actually has its own mini-rally going on.  FXI, BIDU, CHL, EDU,ACH, SNP all re-gained their 50 day MAs, even LFC and LDK have cleared the 50 day MAs. Even though they are chinese stocks, it generally move with US's market only twice the volatility accoring to bespoke.

Speaking about international market, the following chart showed P/E for various market.  Hopefully, it can provide some guidence as where to look for opportunities